Lahore: Ghazi Fabrics International Limited has announced an Extraordinary General Meeting (EGM) of its shareholders, scheduled for June 04, 2025, at the company's registered office in Lahore. The primary agenda for the meeting includes seeking approval for the sale of a significant immovable property asset.

According to the official notice, the company aims to gain shareholder consent through a special resolution for the disposal of a property measuring approximately 175 Kanal 10 Marla. This property is located at Mohal Chak No 66 (Dina Nath), Tehsil Pattoki, District Kasur. The terms and conditions of the sale have been approved by the Board of Directors in a meeting held on May 12, 2025.

The resolution seeks to authorize the Chief Executive Officer or any person designated by him to undertake all necessary actions to facilitate the sale. This includes negotiations with potential buyers, preparation and execution of sale agreements, and dealing with financial institutions to release any encumbrances. The resolution also empowers the Board to make modifications as required by the Securities and Exchange Commission of Pakistan or any other competent authority without further shareholder approval.

According to information available from the Pakistan Stock Exchange (PSX), the sale is significant for Ghazi Fabrics International Limited, reflecting strategic decisions aimed at optimizing the company’s asset portfolio. The designated market category for the company's shares is the textile sector, a critical component of Pakistan's industrial landscape.

The EGM will also provide an opportunity for shareholders to discuss any other business with the chair's permission. The resolution authorizes the company's executives to handle statutory filings and documentation related to the sale, ensuring compliance with regulatory requirements.